London, United Kingdom ( PRFriend ) August 11 ,2009  – Aquarius Platinum Limited is engaged in the exploration, development and acquisition of platinum group metals (PGM) including Platinum, Palladium, Rhodium and Gold. Its PGM mining and exploration operations take place in South Africa and Zimbabwe, with administration functions in Australia and Bermuda.

In a half year result announced in February 2009, group production rose to 260,208 PGM ounces; 17% higher than the previous six months to June 2008. However it was 6% lower when compared to the six months to December 2007 due to a temporary production suspension at Everest following an early detection of subsidence. At the start of the financial year, Aquarius was targeting a 2009 annual production of 575,000 PGM ounces, representing an increase of approximately 15% on the previous year.

Marketing Director Andrew Dyer explained “In a first half year result of 2009, Aquarius reported significant falls in PGM prices with Platinum prices during this period being 56% lower at $904 per ounce compared to the six months to December 2007, while Rhodium prices were 87% lower at $1,250 per ounce. Palladium was 60% lower at $184 per ounce and Gold was 6% lower at $866 per ounce. In the second half of 2009, Aquarius is set to benefit from higher commodity prices as platinum prices rebounded from a year low of $774 in November 2008 to $1186 per ounce in July this year. Palladium prices also rebounded from a year low of $161 to $259. Jewellery has seen some reduction in demand, yet requests from platinum autocatalysts and ETFs(Electronic trade funds) in particular have seen significant growth on strong Chinese auto industry rebound and dollar falls against the euro and sterling.”

On daily chart, Aquarius is making a ‘V’ pattern in a range of 170.0p and 316.0p, with a higher low indicating strong uptrend. MACD (moving average convergence/divergence) is negative and 12 day EMA has cross above 26 day EMA indicating formation of upside trend. 14 day RSI (relative strength index) is near 60 showing strength in trend. ADX (average directional index) is near 26 indicating strong positive trend. Stock is also above 20 day and 50 day EMA which supports strength in trend. For a higher move stock has to move above 250.0p with some consolidation as stochastic indicating overbought. The stock has immediate resistance near 268.0p and support near 220.0p.

The stock can be bought around 245p with a profit target 273.24p and stop loss of 232.7p (Hedge position: short position in spread betting with £5.09 bet per point).

For additional information please contact CSS Partners via: http://www.csspartners.co.uk

Contact:

Andrew Dyer
Apex House, 18-20 Appold Street, London EC2A 2AS, United Kingdom
+44 (0)20 7422 1800

###